Private Trust Co. NA Sells 1,397 Shares of The Trade Desk, Inc. (NASDAQ:TTD)

Private Trust Co. NA reduced its stake in The Trade Desk, Inc. (NASDAQ:TTD) by 20.7% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 5,362 shares of the technology company’s stock after selling 1,397 shares during the period. Private Trust Co. NA’s holdings in Trade Desk were worth $630,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Ithaka Group LLC grew its stake in shares of Trade Desk by 4.5% in the 3rd quarter. Ithaka Group LLC now owns 112,888 shares of the technology company’s stock worth $12,378,000 after buying an additional 4,836 shares in the last quarter. Lyell Wealth Management LP grew its stake in shares of Trade Desk by 24.3% in the 4th quarter. Lyell Wealth Management LP now owns 98,339 shares of the technology company’s stock worth $11,558,000 after buying an additional 19,204 shares in the last quarter. Nordea Investment Management AB grew its stake in shares of Trade Desk by 36.2% in the 4th quarter. Nordea Investment Management AB now owns 1,347,318 shares of the technology company’s stock worth $159,132,000 after buying an additional 358,350 shares in the last quarter. Assetmark Inc. grew its stake in shares of Trade Desk by 2,461.2% in the 3rd quarter. Assetmark Inc. now owns 73,559 shares of the technology company’s stock worth $8,066,000 after buying an additional 70,687 shares in the last quarter. Finally, Swiss National Bank grew its stake in shares of Trade Desk by 0.3% in the 3rd quarter. Swiss National Bank now owns 1,321,400 shares of the technology company’s stock worth $144,892,000 after buying an additional 4,500 shares in the last quarter. 67.77% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. DA Davidson dropped their price objective on shares of Trade Desk from $134.00 to $103.00 and set a “buy” rating for the company in a research note on Thursday, February 13th. Citigroup dropped their price target on shares of Trade Desk from $140.00 to $108.00 and set a “buy” rating for the company in a research note on Thursday, February 13th. Wolfe Research lifted their price target on shares of Trade Desk from $140.00 to $155.00 and gave the stock an “outperform” rating in a research note on Friday, January 3rd. Oppenheimer dropped their price target on shares of Trade Desk from $135.00 to $115.00 and set an “outperform” rating for the company in a research note on Thursday, February 13th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $145.00 price target on shares of Trade Desk in a research note on Thursday, February 13th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Trade Desk presently has a consensus rating of “Moderate Buy” and an average target price of $119.45.

Insider Buying and Selling

In related news, CEO Jeffrey Terry Green sold 18,207 shares of the business’s stock in a transaction that occurred on Tuesday, January 7th. The shares were sold at an average price of $125.44, for a total transaction of $2,283,886.08. Following the completion of the transaction, the chief executive officer now owns 704,229 shares in the company, valued at $88,338,485.76. The trade was a 2.52 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Jay R. Grant sold 18,524 shares of the business’s stock in a transaction that occurred on Monday, December 30th. The stock was sold at an average price of $119.35, for a total transaction of $2,210,839.40. Following the transaction, the insider now owns 169,464 shares of the company’s stock, valued at approximately $20,225,528.40. This trade represents a 9.85 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 41,029 shares of company stock worth $5,004,296 in the last 90 days. 9.72% of the stock is owned by corporate insiders.

Trade Desk Stock Performance

NASDAQ:TTD opened at $70.31 on Friday. The Trade Desk, Inc. has a one year low of $69.37 and a one year high of $141.53. The firm has a market cap of $34.70 billion, a P/E ratio of 90.14, a P/E/G ratio of 3.11 and a beta of 1.45. The firm has a 50-day simple moving average of $109.60 and a 200-day simple moving average of $114.36.

Trade Desk (NASDAQ:TTD) last posted its quarterly earnings results on Wednesday, February 12th. The technology company reported $0.36 EPS for the quarter, missing the consensus estimate of $0.57 by ($0.21). Trade Desk had a net margin of 16.08% and a return on equity of 16.38%. On average, research analysts predict that The Trade Desk, Inc. will post 1.06 EPS for the current fiscal year.

Trade Desk declared that its board has approved a stock repurchase program on Wednesday, February 12th that permits the company to buyback $564.00 million in shares. This buyback authorization permits the technology company to reacquire up to 0.9% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.

About Trade Desk

The Trade Desk, Inc operates as a technology company in the United States and internationally. The company offers a self-service cloud-based platform that allows buyers to plan, manage, optimize, and measure data-driven digital advertising campaigns across various ad formats and channels, including video, display, audio, digital-out-of-home, native, and social on various devices, such as computers, mobile devices, televisions, and streaming devices.